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Mr. Naranbold is 32 years old and lives with his wife and 2 children in Hentii Province, Mongolia. His wife, Gantsetseg, works at a local hospital as a nurse. His son, Eson-Erdene, attends a local primary school and his daughter, Esugen, is in kindergarten.

Mr. Naranbold has been running a taxi service business in town since 2003. He has gained a lot of experience and customers' trust over the years. He is now requesting 5,000,000 MNT to replace his car so that he may run his taxi service more smoothly without breaking down. His car has had several breakdowns in the last few months. He is a hardworking, diligent, and modest man.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,625 helped Naranbold to replace his car in order to run his taxi service more smoothly.
87% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Dec 15, 2012
Jan 13, 2013
Currency Exchange Loss:
Dec 17, 2014